# **ANNUAL REPORTS AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CHARITY REGISTRATION No: 1192823** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONTENTS** Page 3 Legal and Administrative Information Pages 4 to 8 Trustees' Report Page 9 Statement of Financial Activities Page 10 Balance Sheet Pages 11 to 21 Notes to the Financial Statements Page 22 Independent Examiner's Report 2 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 1192823 **DATE OF REGISTRATION** 16th December 2020 **START OF FINANCIAL YEAR** 1st January 2022 **END OF FINANCIAL YEAR** 31st December 2022 **TRUSTEES AT 31ST DECEMBER 2022** Sophie Pender Oyinkansola Sanusi Maddalena Cavaciuti **EXECUTIVE COMMITTEE** Sophie Pender Samuel Turnpenny Yousif Oghanna Finley Wright Jamie Rogers Alice Bassett Naima Ali Ellora Card Emma Shardlow **LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 16th December 2020 ## **OBJECTS** For the benefit of the public, to act as a resource for young people living in the United Kingdom and the Republic of Ireland by providing advice, assistance and support and organising educational programmes and other activities as a mean of: a) Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; b) Advancing education; c) Relieving unemployment; and d) Providing recreational and leisure time activity in the interest of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improve their conditions of life of such persons. **CORRESPONDENCE ADDRESS** Silverstream House 4th Floor 45 Fitzroy Street London W1T 6EB **PRIMARY BANKERS** National Westminster Bank Plc 250 Bishopgate London EC2M 4AA **INDEPENDENT EXAMINERS** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS 3 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **Status** The 93 Percent Club Foundation, also known as ‘The 93% Foundation’ and ‘The 93% Club’, ('The Foundation’) is a charitable incorporated organisation registered with the Charity Commission in England under charity number 1192823. It is governed by a Constitution and administered by a Board of Trustees appointed under those rules. ## **Formation and Governing Document** The Foundation was formed in 2020 and was registered with the Charity Commission under charity number 1192823 on 16 December 2020. It is governed by rules set out in its Constitution dated December 2020. ## **Appointment and Training of Trustees** Trustees are appointed only by resolutions passed by existing Trustees to co-opt new Trustees. This is carried out in accordance with clauses 10.1 and 10.2 of the Constitution. Trustees are appointed for a term of two years and, in appointing new Trustees, the charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Foundation. The training and induction requirements of each Trustee are assessed on an individual basis and access to training is offered where necessary. Trustees are provided with a copy of the Charity Commission’s guidance for trustees as well as the Foundation’s Constitution and all relevant papers, accounts, documents and minutes. ## **Organisation** The Foundation is a voluntary organisation which is administered by the Board of Trustees who are listed on page 1. The Board of Trustees meet regularly during the year to ensure proper administration of the Foundation and application of its resources. The day-to-day management of the Foundation is delegated by the Board of Trustees in line with the Foundation’s Constitution to the Executive Committee who are also listed on page 1. The Executive Committee have met face-to-face twice during the year and have held regular online meetings at least once every month. The Executive Committee regularly report back to the Board of Trustees both in online meetings and in email discussions. ## **Risk** The Board of Trustees have reviewed the major risks to which the Foundation is exposed and are satisfied that appropriate measures have been taken to mitigate all such risks. ## **Objectives and Activities for the Public Benefit** The Foundation’s objectives are clearly set out in the Constitution and can be summarised as to provide advice, assistance, support, recreational activities and educational programmes for university students across the UK who attended state schools or are from disadvantaged backgrounds. By bringing together thousands of state-educated individuals across the UK, we are redistributing the social, economic and political influence that has been held by a small proportion of society back to the 93%, and building a future that’s fairer for the next generation. The Foundation achieves its objectives through the management of its flagship programme, The 93% Club; a virtual and in person network for state-educated students across the UK. The network is self-organised by student beneficiaries who participate in the Foundation’s leadership development programme and volunteer as part of a student management committee. Running the network serves as a professional development opportunity for the students and also strengthens their overall employability as they approach graduation and look for graduate career opportunities. The main area of the Foundation’s activities is the delivery of educational events through The 93% Club programme, with several virtual and in-person events having taken place this year. These activities include flagship conferences, careers workshops, recruitment training and other employability activities that are delivered by the student management committee with the support of the Executive Committee. 4 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022** The Foundation’s volunteers also coordinate a national network of independent student groups across the country who each run 93% Club ‘branches’ to organise local social and educational events on campus for students at their university. The Foundation benefits from voluntary assistance. For the purposes of the accounts, no value has been attached to this voluntary assistance or to any donations in kind. The Board of Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s objectives, planning activities and deciding on the use of funds. ## **Achievements and Performance including Delivering Public Benefit** ## **Network of The 93% Club Branches** The 93% Club has made significant strides in expanding its reach and impact. We are now represented in more than 40 universities across England, Scotland, and Wales, with active clubs on campuses nationwide. Our presence includes universities such as Birmingham, Bristol, Cambridge, Cardiff, and many others. In the spirit of our grassroots nature, our student leaders are responsible for delivering impact to our members on the ground - this involves hosting events that focus on employability, careers, social mobility, diversity and inclusion, networking and recruitment. Each of our 40+ branches takes the lead on their own initiatives, as well as being part of our national events, allowing local students access to more bespoke support and local executive committees further development opportunities. Across the networks our university clubs have achieved incredible things in 2022 including: - Access to graduate application workshops; - Free breakfast initiatives for members struggling with the cost of living crisis; - Socials to foster belonging amongst members: group pottery painting, pub quizzes, escape rooms, ice skating, film - nights, coffee mornings and karaoke nights; - CV and cover letter clinics; - Political debate training; - Roadshows to the relevant club’s local state schools to provide information on getting in to university and what life is like - there; - An accentism on campus campaign - raising the profile of classism and accentism on campus at a national level; - Preparation of informative guides: State Schoolers’ Survival Guide to University; cost of living guides - including tips on - student housing, getting house deposits back, and how to address issues that arise; - Group revision sessions; ● Development of employability funds, which awarded financial support to members - allowing members to fund sign language courses to become a primary school teacher; funding towards a journalism masters degree; and travel and suits to summer internships; - Buddy schemes with the careers team to make careers events more accessible and welcome for state educated - students - pairing students together to attend careers events; - Collaborations with local theatre companies to provide opportunities for students in the arts; - Professional headshot sessions and LinkedIn workshops to support students’ online profiles; and - Careers workshops which span finance, investment banking, corporate law, careers in the arts. 5 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **The Social Mobility Factory 2022** In April 2022, we introduced the Social Mobility Factory - the UK’s largest employability event for state educated students. The Social Mobility Factory was a conveyor belt of career-boosting activities to manufacture social mobility at scale. We hosted over 300 people and, across the course of just one day, delivered: - Over 60 mock interviews, pairing state-educated students with professionals from their dream career; - 3 employability masterclasses - mastering your professional profile, the art of negotiation and how to ace an interview; - Over 120 professional headshots, to give students the best chance to grow their professional network; - A CV clinic with top graduate employers; and - A networking evening with hundreds of professionals. The event successfully facilitated connections and provided valuable resources to students from across the UK. In keeping with our ethos to ensure that careers events are accessible, we ensured that the barrier to entry was low and that all students had their travel and, if necessary, accommodation reimbursed. Of the student attendees: - 68% were first generation students; - 40% were eligible for free school meals; - 23% identified as LGBTQ+; - 22% were from Asian ethnic minority background; - 10% were from black minority ethnic backgrounds; and - 62% were women. ## **Level Up** In November 2022, our "Level Up" initiative focused on addressing the unique challenges faced by students in the North of England. This program featured discussions with students, employers, and policymakers, promoting collaboration to shape the levelling up agenda. Over 250 students and professionals from the Northern region participated, benefiting from: - 15 career advice clinics, including employer stands, and CV workshops; - Over 150 professionals headshots taken to boost student profiles; - Careers panels, from startups to blue chip companies; - networking opportunities; and - a reception with Mayor of Manchester - Andy Burnham. Of the students who attended: - 93% went to state schools in the UK; - 57% were the first in their family to attend university; - 60% were women; - 24% identified as LGBTQ+; - 36% were eligible for free school meals; and - 43% of attendees were from black, Asian or minority ethnic backgrounds. Lexi, one of our student members, secured a graduate role at one of the companies represented at Level Up: _“I was lucky enough to attend the Level Up event last year where Bobby Idogho, the founder and CEO of Radically Digital, was one of the panellists. During the networking drinks, I spoke to Bobby about his contributions and we discussed my career aspirations. The conversation left me feeling inspired, so I reached out to him on LinkedIn and he kindly set up another meeting to discuss my goals in more detail. Bobby’s guidance helped me to recognize what direction I wanted my career to go in, and what my next steps should be. Following the conversation, I decided to apply for the Operations Associate graduate role at Radically Digital - and I was successful! Level Up allowed me to broaden my horizons and network with incredible people I wouldn’t have the opportunity to meet otherwise.”_ 6 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **Launch of the Online Platform** In September 2022, we launched our online platform. In three months, we had just over 2000 members join. The platform democratises access to the 93% Club for those who do not have their own local 93% club branch, and connects our student members and provides access to employment opportunities no matter where they are in the UK. The platform consists of: ● **The Opportunity Board** - the 93% Club’s very own job board, exclusively for 93% Club Members. Our employer partners can use this board to pin their latest job vacancies, early careers programmes, insight days and more; - **The Careers Supermarket** - allowing students to shop the virtual shelves to find out more of our carefully selected - employer partners, chat with recruiters and apply to jobs; - **The Advice Centre** - allowing students to access help and support at university, including resources on how to seek - financial support whilst at university; ● **Helping Hand** - a forum where students can go to ask one another questions and seek support - whether its top tips for freshers’ week, exam and revision practise, the best part time jobs on offer, or an introduction to someone in a relevant industry; and - **The Virtual Clubhouse** - a place for 93% members from across the country to have a single place to meet, connect, and - network online. ## **Elevate - Home Office and Civil Service Programme** In 2022, we enrolled 42 students into our pilot programme with the Civil Service and Home Office. The 42 aspiring civil servants were from 19 different universities. The programme was a huge success, and was acknowledged with an award for innovation from the UK Social Mobility Awards. In particular: - 90% of attendees said that the programme allowed them to expand their network with professionals and students they - would never have discovered before; - 100% said that the programme taught them skills that they have used or will use in future when applying for opportunities; - 100% said that the Elevate programme increased their confidence in exploring career options and making applications to - the Home Office; - 97% said that the programme increased their knowledge and understanding of the Civil Service; and - 77% were encouraged to explore new routes into the Civil Service they had not considered before. A student on the programme said: _“The Elevate program has really equipped me with the knowledge of what working in the civil service entails and how to navigate the complex application process. I initially applied for SIP in December before we had had the sessions on behaviours and personal statements, and I did not get an interview. However a few weeks later after those sessions I applied for a summer internship with Government Operational Research Service and got an interview! I definitely was able to progress my application further due to the knowledge and skills acquired through the Elevate program”._ 7 THE 93 PERCENT CLUB FOUNDATION Icharitslje Incorporated Organisab'on CONSOLIDATED TRUSTEES. REPORT FOR THE YEAR ENOED 31ST OECEMBER 2022 Our Employer Partners Partnering with emFAoyers forrns a huge parl of our irnpact ¢JeliYery- by working with ernFqoyer& we enable students lo gain knowkdge into top industries that they WOU￿ not otherwise receive. In 2022 we partrEred with Some i￿redIb￿ organi5ations to deliver our work. induding.. RPC ArnerKan Expres5 Ball1￿ Grftord Taylor Wessiro SI8￿hter and May KPMG Gddman Sachs oc&c Eversh8d$ Sutherlqnd HSF ca￿tha1 OM l Bkckridgtr Ocado Group Carpenters Gr￿p Fre5hfKgkls Bank of AmerlcÈ JLL cms Wiley Edge Teach First BCG We are Inc￿41b￿ proud ofwhat the Club arky fts st￿yentS have pKcwrAL8hed In 2022. aTrJ we bok forward lo an even more 8u¢cessful 2023. Roi•rvM Poll¢y The Board of Trustees are satisfied the knl of reseThes at 31 De¢emtw 2022 amount to £102.773 of unrestricted funds. The Trustees note that they expenditu￿ in the Charty lo Ir¢￿aSe $onificanlty wrth the onboar¢lrg of rew hires 8rKY the (Jevek)pment of rew prqects in 2023. and are the￿10￿ comfrfftstle wilh the kvel of Reserves 8$ they currentty stsn¢J. TruMo08' Rown$lbllltlo$ The Charit￿5 Acl 2011 requires Ihe tru$iae$ to prepare fi￿ncilI $￿te￿[ts èach fifi8￿81 year which givts a true 8nd falr view of the slate of affairs of CIO of the surFI￿5 ol the CIO lor ihat ￿ri￿a. In preparmg thoso fI￿nt￿l statements tha trustees are required to.. . Se*1 suitable accountiTh) [x)l￿e$ apw them ¢￿sistentty . Make judgements and esbmates that a￿ wsonat* arKI pwdent Prepare financial State￿￿ntS the co￿eM basis Un￿55 it is inaFpropriate to presume that the CIO will continue in existe￿8. The trustees are responsi￿8 lor keepirYJ proFer accCAJn￿'ry records. which di5ctse wilh reasonable accuracy at any lime the financial FX)SitK)n of the CIO. T￿Y are also res￿SIl4e for safeguarding the assets of the CIO ar¥J hence for taking reasona￿8 steps for the prevention arKI delectK)n of fraud ar¥J otlw irreguLqrilips. 25110123 ApFmed ty the Trustees on................................................................................................................................. SKJne(J on t￿1r behalf by Trustee ........................ Printecl Name.. Owen Jackson ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **(Incorporating Income & Expenditure Account)** |**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Activities for Generating Funds
**3b**
Investment Income
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Cost of Generating Funds
**4b**
Governance Costs
**4c**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
Trading
**TOTAL**
**TOTAL**
Funds
Funds
Subsidiary
**2022**
**2021**
£
£
£
£
£
112,983
-
-
112,983
2,002
12,010
-
88,609
100,619
47,111
55
-
-
55
2
**125,048**
**-**
**88,609**
**213,657**
**49,115**
135,494
-
-
135,494
6,299
-
-
1,129
1,129
-
2,862
-
-
2,862
603
**138,356**
**-**
**1,129**
**139,485**
**6,902**
**(13,308)**
**-**
**87,480**
**74,172**
**42,213**
42,213
-
-
42,213
-
**28,905**
**-**
**87,480**
**116,385**
**42,213**| |---|---| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 11 to 21 form part of these financial statements. 9 THE 93 PERCENT CLUB FOUNDATION Icharitslje Incorporated Organisab'on CONSOLIDATED BALANCE SHEET AS AT31ST DECEMBER 2022 UMestriL#ed Restricted Furmts FurKIs TradirYJ Sub5Kliary Totsl 31.0￿22 Totsl 31.Oec-21 Flxed As50t5 Tangib￿ A55ets Investment5 Totsl Flxed Assots Current A558ts Debtor5 & Prepayment$ Cash at Bank and in Hand Total Curront Assets 10 28.2 76.951 105,151 35,2 102.773 137,973 25.822 32,822 42,763 42,763 Cr•dltors.' Amounts falllNJ due within ontr year 11 1917 17.671 21,588 $50 NET CURRENT ASSETS 28.905 87,480 116,385 42,213 TOTAL ASSETS 1898 current liabililie8 28,905 87,480 116,385 42,213 Credltor8'. Arnounls lalllrrfJ dL* In more than orÉ year 12 NET ASSETS 28,905 87,480 116,385 42,213 Fund•ofth•¢ha￿ty Gengral Fun¢$ Fie$tri¢te¢ Fund$ Tradlro Subsldlary 28.￿5 28,90S 42,213 87A80 87,480 Totsl Fund• 28,905 87,480 116,385 42.213 25110r23 Approved by the Trustees on......... SkJne(J on trelr behalf by Trustee ............ Prlnted Name.. Owen Jad¢soTr 10 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## **Basis of Preparation** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services has been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts. ## _**Investment Income**_ This is included in the accounts when receivable. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 11 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **1. ACCOUNTING POLICIES (continued)** ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters. ## _**Grants with Performance Conditions**_ Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Unrestricted funds**_ These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities. ## _**Restricted funds**_ These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes. ## _**Designated funds**_ These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects. ## _**Fixed Assets**_ Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows: Fixtures, Fittings and Equipment 25% - Reducing Balance Basis ## **2. TANGIBLE FIXED ASSETS** The CIO held no fixed assets during this or the previous financial period. The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None 31st December 2021 : None 12 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **3. INCOMING RESOURCES** |**Note**
**a) Donations, Grants & Legacies**
Gifts & Donations
**b) Activities for Generating Funds**
Primary Purpose Trading
Secondary Purpose Trading
Trading Subsidiary Income
**6**
**c) Investment Income**
Bank Interest|Unrestricted
Restricted
Trading
**TOTAL**
**TOTAL**
Funds
Funds
Subsidiary
**2022**
**2021**
£
£
£
£
£
112,983
-
-
112,983
2,002
**112,983**
**-**
**-**
**112,983**
**2,002**
12,000
-
-
12,000
47,100
10
-
-
10
11
-
-
88,609
88,609
-
**12,010**
**-**
**88,609**
**100,619**
**47,111**
55
-
-
55
2
**55**
**-**
**-**
**55**
**2**| |---|---| 13 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **4. RESOURCES EXPENDED** |**Note**
**a) Cost of Charitable Activities**
Activities & Events
Advertising & Publicity
Bank Charges
Equipment Costs
Grant Funding
Insurance Costs
Licenses & Subscriptions
Premises Costs
Programme Delivery
Technology Development & Maintenance
Training Costs
**b) Costs of Generating Funds**
Trading Subsidiary Costs
**6**
**c) Governance Costs**
Independent Examiners Fees
**11**
Legal & Professional Fees|Unrestricted
Restricted
Trading
**TOTAL**
**TOTAL**
Funds
Funds
Subsidiary
**2022**
**2021**
£
£
£
£
£
126,315
-
-
126,315
2,733
1,479
-
-
1,479
1,426
45
-
-
45
-
-
-
-
-
315
1,250
-
-
1,250
-
423
-
-
423
55
3,076
-
-
3,076
659
1,311
-
-
1,311
-
-
-
-
-
1,111
1,529
-
-
1,529
-
66
-
-
66
-
**135,494**
**-**
**-**
**135,494**
**6,299**
-
-
1,129
1,129
-
**-**
**-**
**1,129**
**1,129**
**-**
800
-
-
800
550
2,062
-
-
2,062
53
**2,862**
**-**
**-**
**2,862**
**603**| |---|---| 14 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **5. RESTRICTED FUNDS** The CIO held no Restricted Funds during this or the previous financial period. ## **6. SUBSIDIARY UNDERTAKING** The Trustees of the The 93 Percent Club Foundation (Registered Charity Number 1192823) have sought guidance and advice and have agreed to register the trading subsidiary, 93 Percent Talent Limited (Registered Company Number 14323933) to further the Charity's objects. 93 Percent Talent Limited (Registered Company Number 14323933) is a wholly owned trading subsidiary of The 93 Percent Club Foundation (Registered Charity Number 1192823). 93 Percent Talent Limited (Registered Company Number 14323933) engages in activities of employment placement and all available profits generated by the company will be utilised by The 93 Percent Club Foundation ( Registered Charity Number 1192823) for general charitable purposes in furtherance of the Charity's objects. ## **Subsidiary Undertakings** **Subsidiary Undertakings Registered Address** 93 Percent Talent Limited Silverstream House 4th Floor 45 Fitzroy Street London W1T 6EB **Class of Share Percentage of Shares Held** Ordinary 100 The results for subsidiary undertaking are as follows: |93 Percent Talent Limited|**Balance**
**Balance**
**30-Aug-22**
Income
Expenditure
Profit/(Loss)
**31-Dec-22**
£
£
£
£
£
-
88,609
1,129
87,480
87,480
**-**
**88,609**
**1,129**
**87,480**
**87,480**| |---|---| ## **Taxation on Surplus on Ordinary Activities** The 93 Percent Club Foundation (Registered Charity Number 1192823) is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The Charity's trading subsidiary, 93 Percent Talent Limited (Registered Company Number 14323933) distributes under Gift Aid available profits to the parent Charity. ## **7. ANALYSIS OF GROUP FUNDS** |The 93 Percent Club Foundation
93 Percent Talent Limited|**Balance**
**Balance**
**01-Jan-22**
Income
Expenditure
Transfers
**31-Dec-22**
£
£
£
£
£
42,213
125,048
138,356
-
28,905
-
88,609
1,129
-
87,480
**42,213**
**213,657**
**139,485**
**-**
**116,385**| |---|---| 93 Percent Talent Limited (Registered Company Number 14323933) engages in activities of employment placement and all available profits generated by the company will be utilised by The 93 Percent Club Foundation (Registered Charity Number 1192823) for general charitable purposes in furtherance of the Charity's objects. 15 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **8. FIXED ASSET INVESTMENTS** The CIO held no fixed assets investments during this or the previous financial period. ## **9. CASH AT BANK AND IN HAND** |Cash at Bank & in Hand
**10. DEBTORS AND PREPAYMENTS**
Sundry Debtors|Unrestricted
Restricted
Trading
**Total**
**Total**
Funds
Funds
Subsidiary
**31-Dec-22**
**31-Dec-21**
£
£
£
**£**
**£**
25,822
-
76,951
102,773
42,763
**25,822**
**-**
**76,951**
**102,773**
**42,763**
Unrestricted
Restricted
Trading
**Total**
**Total**
Funds
Funds
Subsidiary
**31-Dec-22**
**31-Dec-21**
£
£
£
**£**
**£**
7,000
-
28,200
35,200
-
**7,000**
**-**
**28,200**
**35,200**
**-**| |---|---| ## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Sundry Creditors
Independent Examiners Fees|Unrestricted
Restricted
Trading
**Total**
**Total**
Funds
Funds
Subsidiary
**31-Dec-22**
**31-Dec-21**
£
£
£
**£**
**£**
3,117
-
17,671
20,788
-
800
-
-
800
550
**3,917**
**-**
**17,671**
**21,588**
**550**| |---|---| ## **12. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The CIO held no long term liabilities during this or the previous financial period. ## **13. NET ASSETS BETWEEN FUNDS** |Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
Trading
**Total**
**Total**
Funds
Funds
Subsidiary
**31-Dec-22**
**31-Dec-21**
£
£
£
£
£
-
-
-
-
-
28,905
-
87,480
116,385
42,213
-
-
-
-
-
**28,905**
**-**
**87,480**
**116,385**
**42,213**| |---|---| 16 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022** ## **14. STAFF COSTS AND NUMBERS** The Charity employed no members of staff during this or the previous financial period. ## **15. TRUSTEES AND OTHER RELATED PARTIES** No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. ## **16. RISK ASSESSMENT** The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **17. RESERVES POLICY** The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. ## **18. PUBLIC BENEFIT** The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake. 17 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022** |**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Activities for Generating Funds
**3b**
Investment Income
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4c**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022**
**2021**
£
£
£
£
112,983
-
112,983
2,002
12,010
-
12,010
47,111
55
-
55
2
**125,048**
**-**
**125,048**
**49,115**
135,494
-
135,494
6,299
2,862
-
2,862
603
**138,356**
**-**
**138,356**
**6,902**
**(13,308)**
**-**
**(13,308)**
**42,213**
42,213
-
42,213
-
**28,905**
**-**
**28,905**
**42,213**| |---|---| The above movements relate to the Charity's operations. Movement on all reserves and all recognised gains and losses are shown above. All of the Charity's operations are classed as continuing. 18 ## **THE 93 PERCENT CLUB FOUNDATION** (Charitable Incorporated Organisation) ## **BALANCE SHEET AS AT 31ST DECEMBER 2022** |**Note**
**Fixed Assets**
Tangible Assets
**2**
Investments
**8**
**Total Fixed Assets**
**Current Assets**
Debtors & Prepayments
**10**
Cash at Bank and in Hand
**9**
**Total Current Assets**
**11**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**12**
**NET ASSETS**
**Funds of the Charity**
General Funds
Restricted Funds
**5**
**Total Funds**
**Creditors:**Amounts falling due within one year
**Creditors:**Amounts falling due in more than
one year|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Dec-22**
**31-Dec-21**
£
£
**£**
**£**
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
7,000
-
7,000
-
25,822
-
25,822
42,763
**32,822**
**-**
**32,822**
**42,763**
3,917
-
3,917
550
**28,905**
**-**
**28,905**
**42,213**
**28,905**
**-**
**28,905**
**42,213**
-
-
-
-
**28,905**
**-**
**28,905**
**42,213**
28,905
-
28,905
42,213
-
-
-
-
**28,905**
**-**
**28,905**
**42,213**| |---|---| 19 ## **93 PERCENT TALENT LIMITED** (Charitable Incorporated Organisation) ## **PROFIT AND LOSS ACCOUNT FOR THE FIRST PERIOD ENDED 31ST DECEMBER 2022** |**Note**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Activities for Generating Funds
**3b**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Generating Funds
**4b**
**TOTAL RESOURCES EXPENDED**
**PROFIT/ (LOSS ON ORDINARY ACTIVITIES**
Funds Brought Forward
**SHAREHOLDERS FUNDS CARRIED FORWARD**|Trading
**TOTAL**
Subsidiary
**2022**
£
£
88,609
88,609
**88,609**
**88,609**
1,129
1,129
**1,129**
**1,129**
**87,480**
**87,480**
-
-
**87,480**
**87,480**| |---|---| The above movements relate to the Company's operations. Movement on all reserves and all recognised gains and losses are shown above. All of the Company's operations are classed as continuing. There are no comparative figures available as this is the initial period of incorporated trading activity. 20 ## **93 PERCENT TALENT LIMITED** (Charitable Incorporated Organisation) ## **BALANCE SHEET AS AT 31ST DECEMBER 2022** |**Note**
**Fixed Assets**
Tangible Assets
**2**
Investments
**8**
**Total Fixed Assets**
**Current Assets**
Debtors & Prepayments
**10**
Cash at Bank and in Hand
**9**
**Total Current Assets**
**11**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**12**
**NET ASSETS**
**Company Funds**
Shareholders Funds
**5**
**SHAREHOLDERS FUNDS**
**Creditors:**Amounts falling due within one year
**Creditors:**Amounts falling due in more than one year|Trading
**Total**
Subsidiary
**31-Dec-22**
£
**£**
-
-
-
-
**-**
**-**
28,200
28,200
76,951
76,951
**105,151**
**105,151**
17,671
17,671
**87,480**
**87,480**
**87,480**
**87,480**
-
-
**87,480**
**87,480**
87,480
87,480
**87,480**
**87,480**| |---|---| 21 THE 93 PERCENT CLUB FOUNDATION (Charitable Incorpor*ed (kganisationl INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Rè￿rt to thè trustéè51 members of The 93 Percth CILtb FwThJat&)n on thè ts)rtsolidatwl ar￿MInts for th8 year end8d 31st December 2022 Set out c￿ pages 9 to 21. Re￿•ClIVe rosponslbllltl•s of trugt•88 and •xamlnor The charityts Irustees are reSE￿nsi￿9 for the woparatkn of the a¢¢wnts. Th8 charity'$ tru$t09s consklef thgt an audll Is not required for this year under section 144 of the Charities Act 2011 (th8 Charilies Actl and that an Ind8pgndont gxamination Is needed. It is my responsibilty to: examine the account$ undw sectK)n 145 oflhe Charit￿ ACL follow the prccedures Laid down In the genefal Dir￿1￿5 gfven by the Charity Commlsslon (under sectknn 14515llbl of thg cha￿￿e8 Act. and state whèthor pathuknr matters have com8 to my atten Ba￿• of Ind•p•nd•nt •Mmln•r'* *•¢•m•nt My examination was carried out in ￿1rdanc¢ wlh general Direct*)ns gfven by the Chaiity Commission. An oxaminatlon Indudes a wlew of the accountlrwJ reo)rds kepl by the charlty and o ¢omparlson of the accounts presented wlth those récord8. It also includes con$ider8tton of any unusual rtems or disc105ures in the a¢count$. and sgeking explanations from the trustees concernlng any ¥u¢h matters. The pr￿•jUre5 undertaken do not provide all the evKlgnc& that would be requlr8d in an aydlt, 8nd ¢onseqvently no opinion is givon as to whgthgr tho accounts present a Irue and fair. view and the report L8 Ilmlted lo those matters set oul in the ststement toknv. Ind•p•nd•nt •xamln•rf• *lat•rn•nt In ¢onneGtlon wlth my ¥xaminalth. rn matter has come to my attenllow. which give5 m8 reasonable cause to believe thal in any material resF*Ct, the requirements". to keep xcountlng records In accordar￿ wrth secthjn 130 01 the Charities Act.. and to prepa￿ accounts vthlch ￿e0rd wth the acoyjnling records and CoM￿Y the accounting requirgments of Chgrtt4•8 Act have rbot beon m&t: or lo which, in my opinion. attention shouhj t¢ drawn in fAd8r to ￿eb1• a pr(x)or understsnding of the accounts lo be rg0¢hgd. K. Collaku MAAT Castle Vtew Accounting Ltd New Bam Mudberry Lan& Bosham Chichester West Sussex P018 8TS Date". 30th Octoter 2023